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The Bangladesh Investment Development Authority (BIDA) was established in 2016 by the Bangladesh Investment Development Authority Act, 2016 to encourage investment in private sector, to identify the hindrance of investment and provide necessary facilities and assistance in the establishment of industries. The wide range of services BIDA provides include investment promotion and facilitation covering support, suggestion and aftercare support to the investors. The prime vision of BIDA is to promote domestic and foreign investment as well to enhance international competitiveness of Bangladesh and contribute to overall social and economic development of Bangladesh.